According to a recent report published by the US State Department’s Anti-Money Laundering (AML) unit, Cyprus continues to upgrade its established AML legal framework, while authorities successfully 26 individuals and entities for money laundering related offences in 2018.

Cyprus is an ideal place for holding company location. The following factors described in the article are important when deciding the location of a holding company.

Each licensed Administrative Service Provider (ASP) in Cyprus is registered under CySEC, and must comply with the preparation and submission of the required reports in order to be eligible for maintaining a valid license in Cyprus.

Applying for a residence permit (also known as the yellow slip) is a process which is to be completed by every EU citizen living and working in Cyprus. And once you have managed to obtain it, the permit does not expire and is valid indefinitely.

The tables detailing general expenses in Cyprus can help give you an idea as to how much it will cost you to live there. All figures have been converted into Euros and have been taken using the median from a set of data from 2019-2020 figures ranging from the most expensive to the least.

Cyprus has quickly gained a reputation as a reliable, legitimate offshore jurisdiction, and is universally accepted as the most beneficial tax system in the EU; making it the perfect location for incorporating a company of any type.

In order to apply for a work permit (also referred to as a working visa), the company must be eligible to apply for employing third country nationals. Eligible companies are considered where the majority of Shareholders are non-EU nationals; including Shareholders whose ultimate owners are foreign companies.